Starion Group: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
Starion Group
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€920,718
2024 · -€199,795+€1.1m
Equity
€5.2m
2024 · €4.2m+€920,718
Cash
€195,385
2024 · €482,792-€287,407
Balance sheet total
€108.2m
2024 · €62.5m+€45.6m
Largest movements
Assets
- Receivables within one year +€48.2m
up €48.2m (+89.1%), from €54.1m to €102.4m
of which Other amounts receivable: +€26.4m
- Financial fixed assets -€3.0m
down €3.0m (-59.7%), from €5.0m to €2.0m
of which Affiliated companies: -€3.0m
Equity and liabilities
- Trade debts +€31.6m
up €31.6m (+66.8%), from €47.2m to €78.8m
- Other debts +€17.5m
up €17.5m (+6,525%), from €268,079 to €17.8m
- Short-term financial debts -€4.1m
down €4.1m (-50.4%), from €8.1m to €4.0m
of which Credit institutions: -€3.3m
Income statement
- Turnover +€7.1m
up €7.1m (+48.2%), from €14.7m to €21.8m
- Services and other goods +€5.6m
up €5.6m (+52.0%), from €10.8m to €16.4m
- Other operating charges +€495,082
up €495,082 (+1,868%), from €26,500 to €521,582
- Other operating income +€354,089
up €354,089 (+638%), from €55,493 to €409,582
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
-€199,795
Turnover
+€7.1m
Other operating income
+€354,089
Services and other goods
-€5.6m
Staff costs
-€177,078
Depreciation
-€56,905
Write-downs
-€20,000
Other operating charges
-€495,082
Other operating items
+€63,560
Financial income
+€101,600
Financial charges
-€78,820
Other financial items
-€47,599
Result 2025
€920,718
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€815,328
Investment
+€2.5m
Financing
-€3.6m
Cash 2024
€482,792
From operations (derived)
+€815,328
Net result for the year
+€920,718
Depreciation
+€761,542
Smaller working-capital items
+€87,314
Stocks and contracts
-€810,206
Receivables within one year
-€48.2m
Deferred charges and accrued income
-€240,111
Trade debts
+€31.6m
Tax, wage and social debts
-€342,928
Advances received
-€383,641
Other debts
+€17.5m
Investment (derived)
+€2.5m
Investment in fixed assets (net)
+€2.5m
Financing
-€3.6m
Debts after one year
+€482,563
Current portion of long-term debt
-€1,154
Short-term financial debts
-€4.1m
Contributions, distributions and other
+€0
Cash 2025
€195,385
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €62,534,942 | €108,179,126 | +€45.6m | +73.0% |
| Formation expenses | 20 | - | €21,114 | +€21,114 | |
| Fixed assets | 21/28 | €7,328,576 | €4,062,472 | -€3.3m | -44.6% |
| Intangible fixed assets | 21 | €1,975,095 | €1,784,395 | -€190,700 | -9.7% |
| Tangible fixed assets | 22/27 | €333,251 | €253,350 | -€79,901 | -24.0% |
| Furniture and vehicles | 24 | €52,545 | €13,680 | -€38,865 | -74.0% |
| Leasing and similar rights | 25 | €258,136 | €223,879 | -€34,257 | -13.3% |
| Other tangible fixed assets | 26 | €22,570 | €15,790 | -€6,780 | -30.0% |
| Financial fixed assets | 28 | €5,020,230 | €2,024,728 | -€3.0m | -59.7% |
| Affiliated companies | 280/1 | €5,005,112 | €2,009,360 | -€3.0m | -59.9% |
| Participating interests | 280 | €2,009,360 | €2,009,360 | -€0 | 0.0% |
| Amounts receivable | 281 | €2,995,752 | - | -€3.0m | |
| Other financial fixed assets | 284/8 | €15,118 | €15,368 | +€250 | +1.7% |
| Amounts receivable and cash guarantees | 285/8 | €15,118 | €15,368 | +€250 | +1.7% |
| Current assets | 29/58 | €55,206,366 | €104,095,540 | +€48.9m | +88.6% |
| Amounts receivable after more than one year | 29 | €94,326 | - | -€94,326 | |
| Other amounts receivable | 291 | €94,326 | - | -€94,326 | |
| Stocks and contracts in progress | 3 | €349,893 | €1,160,099 | +€810,206 | +232% |
| Contracts in progress | 37 | €349,893 | €1,160,099 | +€810,206 | +232% |
| Amounts receivable within one year | 40/41 | €54,146,394 | €102,366,984 | +€48.2m | +89.1% |
| Trade receivables | 40 | €50,174,945 | €71,984,384 | +€21.8m | +43.5% |
| Other amounts receivable | 41 | €3,971,449 | €30,382,600 | +€26.4m | +665% |
| Cash at bank and in hand | 54/58 | €482,792 | €195,385 | -€287,407 | -59.5% |
| Deferred charges and accrued income | 490/1 | €132,961 | €373,072 | +€240,111 | +181% |
| Total equity and liabilities | 10/49 | €62,534,942 | €108,179,126 | +€45.6m | +73.0% |
| Equity | 10/15 | €4,239,693 | €5,160,411 | +€920,718 | +21.7% |
| Contributions | 10/11 | €395,605 | €395,606 | +€1 | 0.0% |
| Capital | 10 | €395,605 | €395,606 | +€1 | 0.0% |
| Issued capital | 100 | €395,605 | €395,606 | +€1 | 0.0% |
| Reserves | 13 | €54,660 | €54,660 | = | 0.0% |
| Non-distributable reserves | 130/1 | €39,561 | €39,561 | -€0 | 0.0% |
| Legal reserve | 130 | €39,561 | €39,561 | -€0 | 0.0% |
| Distributable reserves | 133 | €15,099 | €15,099 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €3,789,428 | €4,710,146 | +€920,718 | +24.3% |
| Amounts payable | 17/49 | €58,295,249 | €103,018,715 | +€44.7m | +76.7% |
| Amounts payable after more than one year | 17 | €1,214,974 | €1,697,537 | +€482,563 | +39.7% |
| Financial debts | 170/4 | €1,214,974 | €1,697,537 | +€482,563 | +39.7% |
| Leasing and similar obligations | 172 | €156,896 | €135,037 | -€21,859 | -13.9% |
| Other loans | 174 | €1,058,078 | €1,562,500 | +€504,422 | +47.7% |
| Amounts payable within one year | 42/48 | €57,073,263 | €101,321,178 | +€44.2m | +77.5% |
| Current portion of amounts payable after more than one year | 42 | €92,712 | €91,558 | -€1,154 | -1.2% |
| Financial debts | 43 | €8,063,171 | €3,995,578 | -€4.1m | -50.4% |
| Credit institutions | 430/8 | €3,305,079 | - | -€3.3m | |
| Other loans | 439 | €4,758,092 | €3,995,578 | -€762,514 | -16.0% |
| Trade debts | 44 | €47,245,299 | €78,796,629 | +€31.6m | +66.8% |
| Suppliers | 440/4 | €47,245,299 | €78,796,629 | +€31.6m | +66.8% |
| Advances received on contracts in progress | 46 | €670,673 | €287,032 | -€383,641 | -57.2% |
| Taxes, remuneration and social security | 45 | €733,329 | €390,401 | -€342,928 | -46.8% |
| Taxes | 450/3 | €155,623 | €32,148 | -€123,475 | -79.3% |
| Remuneration and social security | 454/9 | €577,706 | €358,254 | -€219,452 | -38.0% |
| Other amounts payable | 47/48 | €268,079 | €17,759,979 | +€17.5m | +6,525% |
| Accrued charges and deferred income | 492/3 | €7,012 | - | -€7,012 | |
| Operating income | 70/76A | €15,349,297 | €22,578,272 | +€7.2m | +47.1% |
| Turnover | 70 | €14,689,337 | €21,768,535 | +€7.1m | +48.2% |
| Own construction capitalised | 72 | €604,467 | €400,155 | -€204,312 | -33.8% |
| Other operating income | 74 | €55,493 | €409,582 | +€354,089 | +638% |
| Operating charges | 60/66A | €15,095,339 | €21,178,983 | +€6.1m | +40.3% |
| Services and other goods | 61 | €10,780,903 | €16,383,353 | +€5.6m | +52.0% |
| Remuneration, social security and pensions | 62 | €3,321,111 | €3,498,189 | +€177,078 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €704,637 | €761,542 | +€56,905 | +8.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €20,000 | +€20,000 | |
| Other operating charges | 640/8 | €26,500 | €521,582 | +€495,082 | +1,868% |
| Non-recurring operating charges | 66A | €262,188 | -€5,684 | -€267,872 | |
| Operating profit (loss) | 9901 | €253,958 | €1,399,289 | +€1.1m | +451% |
| Financial income | 75/76B | - | €101,600 | +€101,600 | |
| Recurring financial income | 75 | €47,599 | €45,522 | -€2,077 | -4.4% |
| Other financial income | 752/9 | €47,599 | €45,522 | -€2,077 | -4.4% |
| Non-recurring financial income | 76B | - | €56,078 | +€56,078 | |
| Financial charges | 65/66B | €501,352 | €580,172 | +€78,820 | +15.7% |
| Recurring financial charges | 65 | €501,352 | €580,172 | +€78,820 | +15.7% |
| Debt charges | 650 | €453,806 | €539,430 | +€85,624 | +18.9% |
| Other financial charges | 652/9 | €47,546 | €40,742 | -€6,804 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | -€199,795 | €920,718 | +€1.1m | |
| Profit (loss) for the period | 9904 | -€199,795 | €920,718 | +€1.1m | |
| Profit (loss) for the period to be appropriated | 9905 | -€199,795 | €920,718 | +€1.1m |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.